*** Comments prior to evaluation summary ***
On the weekly chart, SPX generate a new low in its consolidation range this week.
An enveloping bar formed in the market on Friday (daily chart). This can have an impact coming into the new week. The envelope indicated a desire to move toward 3070 - 3052 which matches the week charts skipping target low of 3057. So I would accept this is a double confirmation of potential low for next week. As always this is dependent on if the strength and attitude continue.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 193.46 points/ticks/pips. Prices are currently .72x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 2965.66 and 3233.13.
While in consolidation the trade range may decrease to 119.274 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 2825.83 to 3369.65 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 2978.18 to 3217.30 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move first toward 3057 before moving toward 3163
If strength and attitude continue, it could take between 1 - 2 trade periods (weeks) for the first projection and 1 - 2 to reach the second projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 90.00% are bullish, 0.00% are bearish, 10.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Strongly bullish - No entries at this time. If in, consider covering..
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades
On the weekly chart, SPX generate a new low in its consolidation range this week.
An enveloping bar formed in the market on Friday (daily chart). This can have an impact coming into the new week. The envelope indicated a desire to move toward 3070 - 3052 which matches the week charts skipping target low of 3057. So I would accept this is a double confirmation of potential low for next week. As always this is dependent on if the strength and attitude continue.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 193.46 points/ticks/pips. Prices are currently .72x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 2965.66 and 3233.13.
While in consolidation the trade range may decrease to 119.274 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 2825.83 to 3369.65 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 2978.18 to 3217.30 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move first toward 3057 before moving toward 3163
If strength and attitude continue, it could take between 1 - 2 trade periods (weeks) for the first projection and 1 - 2 to reach the second projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 90.00% are bullish, 0.00% are bearish, 10.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Strongly bullish - No entries at this time. If in, consider covering..
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades